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2010U�886
<br />B. All future advances from $eneficiary to Trustor or other future obligations af Trustnr to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by 'I'rustor in favor of Beneficiary aft�r this
<br />5ecurity lnstrument whether or not this Security Instrument is specifically referenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that this 5ecurity Instrument will secure all futur� advanc�s and future
<br />obligations that are given to or incurred by any one or more Trustor, or any one or mare Trustor and others. All
<br />future advances and nther future obligations are secured by this Security Instrum�nt even though all or part may not
<br />yet b� advanced. All fi�ture advances and other future obligations are secur�d as if made on the date of th�s Security
<br />Tnstrument. Nothing in this Security Instrument shall constitute a commitment to make additional �r future loans or
<br />advances in any amounC. Any such cornmitment must be a�reed to in a separate writing.
<br />C. All ather obligations Trustor owes to Beneficiary, whlch may later arise, to the extent not prohibited by law,
<br />including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br />Beneticiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protectin�;
<br />the Property and its value and any other surns advanced and expenses incurred by Beneficiary under the Cerms of this
<br />Security Instrument.
<br />In the event that Ben�ficiary fails to provide xny reyuired notice of the ri�ht of rescission, Beneficiary waives any
<br />subsequent security inlerest in the Trustor's principal dwelling that is created by this Security Instrument.
<br />5. DEED OF TRUST COVENANTS. Tnistor ab�ree5 that th� covenants in this section are material obligations under the
<br />Secured Debt and this Security Instrument. Xf Trustor breaches any covenant in this sectian, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Trustar's breach,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again.
<br />1'ayments. Trustor agrees that all payrnents under the Secured Debt will be paid when due and in accordance with the
<br />terms of the Secured Debc and this Security Instrument.
<br />Prior Security Interests. With regard to any other mortgage, deed of trust, security agr�ernent or other lien document that
<br />created a prior security interest or �ncumbrance on the Property, Trustor agrees to make all payrnents when due and to
<br />perform or comply with all eovenants. Trustor also abrees not to allow any modifieation c�r extension of, nor to rec�uest
<br />any fi.rture advanc�s under any note or agreement secured by the lien docum�nt without Beneficiary's prior written
<br />approval.
<br />Claims Against Title. Trustor will pay ali taxes (including any tax assessed to this Deed of Trust), assessments, liens,
<br />encumbrances, lease payments, grnund rents, utilities, and other charges relating to the Property when due. Beneficiary
<br />may rec�uire Trustor co provide to Beneticiary copies of all notices that such amounts are due and the receipts evidencing
<br />1'rustor s payment: Trustor wrll defend title to the Property against any claims that would impair the lien oF thls Security
<br />Instrument. Trustor agrees to assign to Beneticiary, as r�c�uested by Beneficiary , any rights, claims or defenses Trustor
<br />may have against parties who supply labor or materials to maintain or lmprov� the Prop�rty.
<br />Property Condition, Alterations and Inspection. Trustor will keep the Prop�rty in good conditinn and make all repairs
<br />that are reasonably n�cessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the Property.
<br />Trustnr agrees that the nature of the occupancy and use will not substantially change without Benefieiary's prior written
<br />consent. Trustor will not permit any change in any license, r�strictive cnvenant or easement without Benefic�ary's prior
<br />written consent. 'I'rustor will notify Bene�ciary of all demands, proceedings, claims, and actions against Trus[or, ana of
<br />any loss or damage to the Property.
<br />_ . _. . _ _. . .. ---
<br />-- Berieficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose
<br />of inspectmg the Prnp�rty. Beneficiary shall give T'rustor notice at the time of or before an inspection specify mg a
<br />reasonable purpos� for the mspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and
<br />Trustor will m no way rely on Benefici�ry's inspection.
<br />Authority to Perform. If Trustor fails to perfartn any duty or any of the covenants contained in this Security Instrument,
<br />Beneficiary rnay, without nntice, perform or cause them to be performed. Trustor ap�oints Beneficiary as attorney in fact
<br />to sign Trustor s name or pay any amount necessary for performance. Beneficiary's r►ght to erform for Trustor shall not
<br />create an obligation to perform, and Beneficiary's failur� to perform will not preclude Bene�ciary from exercising any of
<br />Beneficiary's other r�ghts under the law or this Security Instrument.
<br />Leaseholds; Condom�niums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease if
<br />this Security Instrument is on a leasehold. If the Property includes a unit m a condommium or a planned unit dev�lopment,
<br />Trustor will perfarrn all of 'I'rustor's duties under the covenants, by-laws, ar regulations of the condominium or planned
<br />unit development.
<br />Conde�nnation. Trustor will give �ene�ciary prompt notice of any pending or threatened action, by private or public
<br />�ntities to purchase or take any or all ot the Property through condemnation, eminent domain, or any other means. Trustor
<br />authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim far damag�s connected with a condernnation or other taking of all or any
<br />part of the Property. Such proceeds shall be considered payments and wili be applied as provided in this Security
<br />Instrument. 'I'his assignment of proceeds is subject to the terrns nf any prior rr►ortgage, deed af trust, security agreement or
<br />other lien document.
<br />Insuranee. Trustor shall keep Property insured against loss by fire, tlood, theh and other hazards and risks reason�bly
<br />associated with the Property due to its type and lacation. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. What Ben�ficiary rec�uires pursuant to the preceding two sentences can change during the
<br />term of the Secured Debt. The insurance carrier praviding the insurance shall he chosen by Trustnr sub�ect to Beneficiary's
<br />approval, which shall not be unreasonably withh�ld. if Trustor fails to rnaintain the covcrage describe� abcave, Ben�ficiary
<br />may, at Bene�ciary's nption, obtain coverage to protect Beneficiary's rights in the Property according to the terms of this
<br />Security Instrument.
<br />All insurance policies and renewals shall be acceptable to F3eneficiary,and shall include a standard "mortgage clause" and,
<br />where applicable, "loss payee clause." Trustor shall imrnediately not►fy Beneficiary of cancellation or terrnmation of the
<br />insurance. $eneficiary shall have the right to hold the policies and renewals. lf Beneficiary requires, Trustor shall
<br />immediately give to Beneficiary all receipts of �aid premiums and renewal notices. Upon loss, Trustor shall give
<br />irnmediate notice to the insurance carrier and Heneticiary. Beneficiary may rnake proof of loss if not made immediately by
<br />Trustor.
<br />CJnl�ss oth�rwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to
<br />the Secured Debt, whether or not then due, at Bene�eiary's option. Any applieation of proee�ds to prineipal shal] nc�t
<br />extend or postpone the due date of the scheduled paym�nt nor change the amnunt nf any payment. Any excess will b� paid
<br />to th� Trustor. If the Property is acquired by Beneficiary, "1'rustor's ri�ht to any insurance policies and proceeds resultmg
<br />from damag� to the Property before the acqutsition shall pass to Beneficiary to the extent ot the 5ecured Debt immediately
<br />before the acquisition. � �
<br />� O 199A Bankers Systams, Inc., St. Cloud, MN Form OCP•REDT-NE 6110l2006
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